I am interested in purchasing a large dog but am not totally sure wether to buy a German sheperd or a giant schnauzer as i do want a dog that can be protective of my home but also gentle with my 2 young children.Any info from owners would help

Azeem

big difference between those 2 breeds.
i think you would be better to make a list of all the things you want a dog for and what you can offer the dog in return.
the only thing to do is make a list of breeds and work through them of which is best for you and your family,alot of breeds big and small and giant are great with kids but they all go through the puppy stage of nipping etc.
i have only ever owed boxers and my current dog is a leonberger but they are both great with children.most dogs will alarm when needed to protect the home what ever the type.
good luck in your search.

Have a think about your lifestyle - whos at home during the day, how much exercise and training time can you sensibly commit to the dog, how old are the kids and have they passed the stage of poking and pulling at all things novel, if they are very small, how will they manage to keep up with the exercise needs of your favoured breeds? Long or short hair? Any other pets in the house? Flat or house, where are the walking areas? Also have a serious think about what you mean by "protect" the home - is it a warning bark or more? If more what happens if youre out and emergency services need access or you have unexpected visitors? I dont have my husbands choice of breeds GSD and Rhodesian Ridgeback because our teenagers  stream of visitors would torment the life out of a breed with strong guarding instincts. Also be very honest about your experience level and strength of will as these will influence the breeds you consider.

Good luck with your search.